Compilation Process Quiz
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Questions and Answers

What is the first stage of the compilation process?

  • Adjusting entries under the Suspense Head
  • Posting in the Detailed Books (correct)
  • Preparation of the Abstract of major head totals
  • Preparation of Departmental Classified Abstracts
  • The Abstract of major head totals is prepared before the Departmental Consolidated Abstract.

    False (B)

    What document is used to ensure agreement after the receipt of accounts from the treasuries?

    Cash Account and List of Payments

    The transactions relating to Revenue receipts and service expenditure are adjusted in Detailed Book-I under the _______ Head.

    <p>Suspense</p> Signup and view all the answers

    Match the following components of the compilation process with their descriptions:

    <p>Departmental Classified Abstracts = Bring together monthly receipts and payments of each department Detailed Book Part -II = Contains adjusting minus entries under the suspense head COMPILATION sheet = Total sums of sub-heads/minor heads/major heads of accounts Departmental Consolidated Abstract = Shows the progressive totals of receipts and payments</p> Signup and view all the answers

    Which document is primarily checked to ensure agreement after receiving monthly accounts from the treasuries?

    <p>List of Payments (C)</p> Signup and view all the answers

    The final stage of compilation involves the posting of figures from the Departmental Classified Abstracts into the Detailed Books.

    <p>False (B)</p> Signup and view all the answers

    What is compiled to bring together monthly receipts and payments for each department?

    <p>Departmental Classified Abstracts</p> Signup and view all the answers

    After the first stage, the transactions relating to Revenue receipts are adjusted in Detailed Book-I under the _______ Head.

    <p>Suspense</p> Signup and view all the answers

    What happens after all the vouchers are posted in the COMPILATION sheet?

    <p>Totals are stuck and agreed with the total of the appropriate Schedule of payment. (D)</p> Signup and view all the answers

    The Detailed Book Part -II contains the adjusting minus entries under the suspense head.

    <p>True (A)</p> Signup and view all the answers

    What is the first step following the receipt of accounts from various outlets?

    <p>Checking the Cash Account and the List of Payments</p> Signup and view all the answers

    The preparation of routines in the compilation process eventually leads to the __________ Abstract of major head totals.

    <p>Abstract</p> Signup and view all the answers

    Match the following components of the compilation process with their purposes:

    <p>Cash Account = Ensures agreement after account receipt Detailed Book-I = Records Revenue receipts adjustments Suspense Head = Adjusts Revenue receipts and service expenditures Departmental Consolidated Abstract = Shows progressive totals of receipts and payments</p> Signup and view all the answers

    Which document summarizes the progressive totals of Revenue receipts and service payments?

    <p>Departmental Consolidated Abstract (B)</p> Signup and view all the answers

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